Is Summit Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summit Township is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Summit Township has remained a Seller's Market.

Key Takeaway

Summit Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Summit Township, MO

How much do homes in Summit Township, MO cost?

Median Sold Price

$275,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$5,000(-1.8%)

Key Takeaway

Homes in Summit Township have sold for 1.8% less than they did a year ago.

Summary: The median home sold price in Summit Township was $275,000 in March 2024, down 1.8% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $234.9K$180K
-23.4%
3 $240K$257.9K
+7.5%
4 $361K$367.5K
+1.8%
5+ $400.3K$380K
-5.1%

Summary: Summit Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 5.1%.

Median Sold Price Compared To Nearby Cities

Cedar Township
+18.9%
Jefferson City
+3.7%
Jefferson Township
+1.5%
Summit Township
-1.8%
Holts Summit
-2.0%

Housing Supply in Summit Township, MO

How many homes are available in Summit Township, MO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1925+31.6%

Summary: The Summit Township real estate market had 25 homes for sale in March 2024, a 31.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1315
+15.4%
4 47
+75.0%
5+ 01
+100.0%

Summary: The Summit Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summit Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Summit Township in March 2024, up by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Summit Township, MO

How long does it take to sell a home in Summit Township, MO?

Average Sale Time

Mar 2023Mar 2024CHANGE
65 Days12 Days-80.8%

Summary: Homes in Summit Township had an average of 12 days on market in Mar 2024, down by 80.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Summit Township are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 6 homes were sold in Summit Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Summit Township, MO

Nearby Markets to Summit Township, MO

What housing markets are near Summit Township, MO?